Admitting that North East Industrial and Investment Promotion Policy (NEIIPP) “has not been able to bring any substantial improvement in the industrial climate” of Assam and the region, Assam chief minister Tarun Gogoi has asked for a “review” of the various provisions of the policy and demanded its modification.
Gogoi, who was speaking at the 60th meeting of the North Eastern Council (NEC), the nodal agency for economic and social development of North-East, said the NEIPP should be “modified”, keeping in mind the interests of the North Eastern states “only”. He urged NEC to undertake a review of the provisions of NEIIPP.
“The modified NEIIPP should be formulated exclusively for the North-Eastern states, incorporating provision of exemption of Minimum Alternate Tax (MAT), extension of capital investment subsidy benefit to power projects up to 25 MW and interest subsidy on term loan to attract multi-national companies (MNCs) for investment in Assam and other states of North-East,” said Gogoi.
Gogoi also requested NEC to declare a “liberal” policy package for the village and cottage industry of North-East in the form of 50 per cent central capital investment subsidy on fixed investment in plant and machinery, building and other equipments as well as 5 per cent investment subsidy on working capital and subsidy on yarn procurement.
He also suggested for setting up of a ‘central raw material depot’ in the region to meet the requirements of the local handicraft units at subsidised rates.
Gogoi demanded “adequate allocation of funds” to the NEC by the Centre to address “hopes and aspirations of the region as a whole.”
“Funds allocated to NEC should be increased substantially. As of now, with the limited outlay, the NEC would fall drastically short in terms of achieving the ambitious goals set out in the NE Vision 2020,” said Gogoi.
He asked NEC to accord “utmost priority” for construction of a permanent bridge over the Brahmaputra connecting Dhubri on the north bank in Assam and Phulbari on the south bank in Meghalaya.
